Real estate investment manager Valad Europe has sold three assets in Germany totalling 90,450 square metres to BEOS for an international investor group.
Two of the assets are located in Berlin and one is located in Hannover. The sales were completed on behalf of Valad’s V+ Germany mandate.
Zeughofstraße 1 is a 48,660 sq m multi-let light industrial asset located in the Kreuzberg central district of Berlin, 6km from city east and Potsdamer Platz. The asset is let to 37 tenants including Aastra, Sykes, TKV, Saint-Gobain and PI Photovoltaik-Institut Berlin.
Holzhauser Straße 139, 153 and 155 is a 25,290 sq m multi-let light industrial asset located north of Berlin city centre and benefits from very good access to the A100 motorway and Tegel Airport. It is let to 23 tenants including 4Wheels, TransPark, Stahlgruber, Sonepar, Sto and Merkur Schoppe.
Lilienthal-Center is a 16,500 sq m multi-let light industrial asset located in Hannover. It is let to 21 tenants including Moor Park, Max Bahr, Hilti Deutschland, Solar Deutschland and Citipost.
Andreas Hardt, Valad Europe’s head of Germany, says: “Trading assets in line with supply and demand in the wider property market is an important way of recycling capital in the portfolio. On this occasion, we sold three assets having enhanced their values with active asset management strategies, through a combination of repositioning the assets and extending existing leases with tenants.”
Holger Matheis, head of BEOS Berlin, says: “The properties are very attractive to our investors as they are located in high-growth regions and have a diversified mix of tenants.”
The portfolio of properties which make up the V+ Germany mandate are secured by the German Aktiv Property Fund Limited Partnership which Valad Europe was recently appointed to manage.